RIL AGM 2018: Reliance owner, Mukesh Ambani entered into another record for paying highest tax; is it a Jio effect?

Speaking at the Reliance Industries’ 41st Annual General Meeting, Mukesh Ambani, Reliance Industry Chairman, said that his industry is India’s largest payer of Goods and Services Tax (GST), Excise and Customs Duty and Income Tax in the private sector.

Talking about the growth of Jio, he said ‘Jio and retail's share in overall EBITDA from 2 percent to 13 percent’. He added that Jio is now India’s most widespread mobile network that has reached to the larger users than even the 2G players. He also said that Jio is committed to making India one of the top 5 fixed broadband countries in the world.

Dubbing Jio as India’s only mobile video network, Ambani, who is the richest person of India, said he is committed to making India one of the top 5 fixed broadband countries in the world.

There has been an increase in the net profit for the fourth-quarter (January-March) of fiscal 2017-18 as it stands at Rs 9, 435 crore up by 17.3 percent.

Earlier, Ambani had said “Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion with each of our key businesses - refining, petrochemicals, retail and digital services achieving record earnings performance”.